Rokos Capital Management LLP Raises Position in Tower Semiconductor Ltd. $TSEM

Key Points

• Rokos Capital Management increased its Tower Semiconductor stake by 16.3% in the first quarter, adding 33,263 shares to own 237,628 shares valued at approximately $41.7 million.
• Institutional investors own 70.51% of Tower Semiconductor, while several other funds—including SBI Securities and CIBC Private Wealth—also expanded their positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $276.75, though the stock opened at $224.21 and carries a high valuation with a price-to-earnings ratio of 104.28.

Rokos Capital Management LLP boosted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 16.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 237,628 shares of the semiconductor company's stock after buying an additional 33,263 shares during the period. Rokos Capital Management LLP owned approximately 0.21% of Tower Semiconductor worth $41,711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSEM. USA Financial Formulas bought a new position in Tower Semiconductor in the 4th quarter worth about $27,000. Hanson & Doremus Investment Management bought a new stake in shares of Tower Semiconductor during the 1st quarter valued at about $53,000. CIBC Private Wealth Group LLC grew its holdings in shares of Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Tower Semiconductor during the fourth quarter worth about $52,000. Finally, SBI Securities Co. Ltd. increased its position in shares of Tower Semiconductor by 344.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 403 shares during the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSEM. Benchmark reaffirmed a "buy" rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. UBS Group reissued a "buy" rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Wedbush increased their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Finally, Susquehanna raised their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a "positive" rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $276.75.

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM opened at $224.21 on Tuesday. The stock has a market cap of $25.21 billion, a price-to-earnings ratio of 104.28 and a beta of 0.87. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. Tower Semiconductor Ltd. has a 1-year low of $43.12 and a 1-year high of $319.94. The stock's 50-day moving average is $254.32 and its 200 day moving average is $195.21.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company's technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.

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